The latest victim of the budget crunch at the University of Texas? Employee raises.
UT President William Powers Jr. sent a letter to faculty and staff this week explaining that, with a few exceptions, raises would not be available in the next fiscal year — but that one-time, merit-based increases (a.k.a., bonuses) would. Everyone is eligible for those bonuses, but not everyone will get them.
Here's Powers' letter, which he posted on his blog:
Recently I shared with you information that all Texas state agencies have been asked to plan for a possible 10% budget reduction in the ...